Retire, live on a boat and get rich in Portugal


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7761_1363177028Are you retired and finally want to live on a boat as much as possible? Portugal is the right place to keep the boat and live in it, because your pension is not taxed and the gross equals the net and the amount grows by 30 percent compared to the amount you would receive in Italy. How do you take advantage of this “Portuguese-style” opportunity, a child of the European war between nations to increase revenue? Simple, in Portugal if you live at least 183 days a year and assume “nonhabitual resident” status for 10 years, quite legally, your pension is tax-free. Just do a simple count to see what the benefits are.

For example, if you receive a net pension in Italy of 24,000 euros a year, it becomes over 31,000 euros in Portugal. If you then put into account that Portugal has an average cost of living that is 30 percent lower than that of Italy, one realizes that a retirement life saved in Italy allows you to live comfortably in Portugal, earning 60 percent more.

This tip came to us from one of our readers who bought a beautiful used boat in the Algarve, extreme edge of the Mediterranean, and placed it in the beautiful Lagos marina. “Here in the Algarve,” he tells us, “the sea is beautiful and until November we swim and from April we start again. My boat is 14 meters and I pay per year about 1400 euros for mooring in a 5-star marina with all imaginable and possible services.” He continues: “To give you an idea of the cost of living, a coffee costs 60 cents and maintenance costs me exactly half of what I used to spend in Italy. To return home to Italy I take a low-cost plane from the nearby Faro airport and spend around 100 euros.” Not surprisingly, Italian is also spoken at the Lagos Marina, the migration of retired sailors has begun.



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